Fannie and Freddie Ask For More Bailout Money

16 December 2009 ? Fannie Mae and Freddie Mac are poised to ask the government for more bailout money. They initially asked for $200 Billion, then later increased that amount to $400 Billion, and are now planning on asking for a grand total of $600 Billion. The interesting part is about the request. Fannie Mae loans are some of the hardest to obtain today. With their very strict guidelines and increased down payment as well as PMI requirements and HVCC rules, obtaining a Fannie Mae loan is next to unheard of. It is no wonder they are in serious trouble. Think of it this way: when Macy’s department store records losses, they do not increase their prices on their merchandise, they put the merchandise on sale in order to bring people through the door. Fannie Mae and Freddie Mac appear to be moving in an opposite direction.

About Katie Anderson

Katie Anderson is a respected and successful broker at Sudler Sotheby's Realty as well as a certified appraiser. She specializes in representing clients who purchase and sell condominiums, town homes, single-family homes and income property in the Chicago land area. In her small amount time in the real estate game (she became an agent in 2003) she has assisted in excess of 400 deals and over $200 million in sales and continues to use her skills as a certified appraiser. Katie resides in Chicago's Bucktown neighborhood with her loving husband and 4-year-old-daughter, where she spends much of her spare time with her family and friends. You can contact her at katie@thechicago77.com or at andersonbraack.com

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[…] will stop purchasing mortgage backed securities. However, they will spend whatever it takes to keep Fannie Mae and Freddie Mac afloat. Fannie and Freddie have been given a blank check by the government. To date, American tax […]